Analysts Set Par Pacific Holdings, Inc. (NYSE:PARR) PT at $81.57

Par Pacific Holdings, Inc. (NYSE:PARR) has been given a consensus rating of “Moderate Buy” by the thirteen brokerages that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $81.5714.

A number of analysts recently issued reports on the company. UBS Group lifted their target price on Par Pacific from $60.00 to $65.00 and gave the company a “neutral” rating in a research report on Wednesday, July 8th. Guggenheim raised Par Pacific to an “outperform” rating in a research report on Wednesday, May 27th. TD Cowen decreased their price target on Par Pacific from $100.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, August 7th. Raymond James Financial raised their price target on Par Pacific from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Monday, July 13th. Finally, Evercore raised Par Pacific to an “outperform” rating in a research report on Wednesday, May 27th.

Par Pacific Stock Down 2.2%

Par Pacific stock opened at $80.28 on Friday. The company has a current ratio of 1.84, a quick ratio of 0.76 and a debt-to-equity ratio of 0.38. Par Pacific has a 1-year low of $27.84 and a 1-year high of $87.03. The company has a fifty day simple moving average of $67.90 and a 200 day simple moving average of $59.44. The company has a market cap of $4.02 billion, a P/E ratio of 4.68 and a beta of 0.78.

Par Pacific (NYSE:PARR) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $10.10 EPS for the quarter, topping the consensus estimate of $8.22 by $1.88. Par Pacific had a net margin of 9.94% and a return on equity of 56.19%. The firm had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same period in the previous year, the firm posted $1.54 EPS. The company’s revenue for the quarter was up 56.8% on a year-over-year basis. Research analysts anticipate that Par Pacific will post 21.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Par Pacific

In related news, insider Danielle Mattiussi sold 3,278 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $67.29, for a total value of $220,576.62. Following the completion of the transaction, the insider directly owned 27,878 shares of the company’s stock, valued at approximately $1,875,910.62. This trade represents a 10.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.60% of the company’s stock.

Institutional Trading of Par Pacific

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Encompass Capital Advisors LLC acquired a new position in Par Pacific during the first quarter worth approximately $28,839,000. Bank of New York Mellon Corp acquired a new stake in shares of Par Pacific in the second quarter valued at approximately $19,353,000. Wells Fargo & Company MN lifted its position in shares of Par Pacific by 810.8% in the fourth quarter. Wells Fargo & Company MN now owns 359,834 shares of the company’s stock valued at $12,645,000 after buying an additional 320,326 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Par Pacific by 22.1% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,756,161 shares of the company’s stock worth $62,203,000 after acquiring an additional 317,484 shares during the period. Finally, Bridgeway Capital Management LLC bought a new position in shares of Par Pacific during the 4th quarter worth approximately $9,576,000. 92.15% of the stock is owned by institutional investors.

Par Pacific Company Profile

Par Pacific Holdings, Inc (NYSE: PARR) is a diversified downstream energy company engaged in the refining, marketing and logistics of petroleum products. Through its subsidiaries, Par Pacific operates the Par Hawaii Refinery on the island of Oʻahu, which processes crude oil into transportation fuels such as gasoline, diesel and jet fuel, as well as asphalt, petroleum coke and sulfur. In the Rocky Mountain region, the company owns and operates the Salt Lake City Refinery in Utah and associated logistics infrastructure, including pipelines and storage terminals, to support both crude supply and product distribution.

In marketing its refined products, Par Pacific maintains a network of branded and unbranded wholesale accounts across Hawaii and the U.S.